L
Dutiable commodities
74.
itcut
The
I shall deal first with dutiable commodities.
principle underlying my proposals continues to be that specific duty rates should be maintained in real terms. I look for
regular small changes broadly in line with inflation rather than
less frequent, but inevitably larger, increases.
Imported hydrocarbon oils
75.
The duty rates on hydrocarbon oils were revised last
year (29). I propose to increase the duty rate on motor spirit from $2.40 to $2.55 a litre, and on diesel oil for road vehicles from $1.20 to $1.27 a litre (30). The refund on diesel oil to
#cents. the franchised bus companies will remain at 65
650 65 a litre. The
two increases come into effect this afternoon. I estimate the
additional revenue yield to be $98 million in 1988-89.
Intoxicating liquor and imported alcohol
76.
Gidal
First, for
Duty rates on intoxicating liquor were also revised
last year (31). This year I have three proposals. cider and perry, beer, non-European type wines and Chinese type
per
spirits, I propose an
increase of
of 6 in the specific duty
elements to restore their real value.
< (29) 1987 Budget Speech, paragraph 103.
(30) If the full increase is passed on to consumers, petrol prices will rise
by about 3.38) and diesel prices by about 2.1
(31)
per cent рез
1987 Budget Speech, paragraph 106.
рейсент
35
/77. Secondly
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